The document provides an introduction to marketing concepts. It defines marketing as the process of creating value for customers and building strong customer relationships. It discusses Theodore Levitt's concept of "marketing myopia" where companies focus too much on the product rather than the customer benefits. The marketing process involves understanding customer needs and creating value for the customer through products and services. Marketing management involves choosing target customer segments and building profitable relationships with them. The document outlines different philosophies in marketing such as production concept, product concept, selling concept, and societal marketing concept.

1. INTRODUCTION TO MARKETING CH01 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM
Principles of Marketing, Kotler, Armstrong, Agnihotri, Ehsan ul Haque 13th Edition
With Added content
(Minerals & Vitamins :p)

2. INTRODUCTION TO MARKETING CH01 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM
THE FIELD OF
MAARKEETING The Definition
Marketing is the process by which companies
create value for customers and build strong
customer relationships to capture value from
customers in return

3. INTRODUCTION TO MARKETING CH01 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM
THE FIELD OF
MAARKEETING Marketing Myopia
Theodore
Levitt
The Term Marketing Myopia was coined by Theodore Levitt,
American economist and professor at Harvard Business School.
One of the most influential thinkers of his time in the field of
Marketing and Corporate Strategy.
Marketing Myopia loosely means when corporations or marketers
pay more attention to the product rather than focusing on the
benefits that the customers may derive from the product.
As Mr. Levitt wrote famously is his article “What Business are you
in?” A customer is not buying a 3.5 inch Drill Machine, He is buying
a 3.5 inch hole.
Source: Theodore Levitt, Markethink, http://www.markethink.guru/it/markethinkers/109-theodore-levitt

4. INTRODUCTION TO MARKETING CH01 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM
THE FIELD OF
MAARKEETING Value Creation: A Yummy Example
Bun Cheese Patty Mustard Frills Basheer Paani, Bijli, Gas
15 10 30 05 15 15 10
Rs.100/BurgerCost

5. INTRODUCTION TO MARKETING CH01 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM
THE FIELD OF
MAARKEETING Value Creation: A Yummy Example
Bun Cheese Patty Mustard Frills Basheer Paani, Bijli, Gas
Rs.100/Burger
Rs.500/Burger
Cost
Price
Marketing is all
those things which
make you spend Rs.
500 for a Rs. 100
burger!

6. INTRODUCTION TO MARKETING CH01 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM
THE FIELD OF
MAARKEETING Value Creation: A Yummy Example
Rs.100/Burger
Rs.500/Burger
Cost
Price
Marketing is all those
things which make you
spend Rs. 500 for a Rs.
100 burger!

7. INTRODUCTION TO MARKETING CH01 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM
THE FIELD OF
MAARKEETING The Marketing Process
The Value Creation Process

8. INTRODUCTION TO MARKETING CH01 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM
THE FIELD OF
MAARKEETING Market Place & Customer Needs
Need Want Demand
Food is required to satisfy
your need- hunger.
Roti say aap ka paith bhar
sakta hai – mugr aap kou
to STEAK khana hai!
Mugr…jaib mien paisay kum
hien, hence aap ki ability aur
willingness bunkebab ki hai

9. INTRODUCTION TO MARKETING CH01 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM
THE FIELD OF
MAARKEETING Market Place & Customer Needs
Need Want Demand
Exchange is the act of
obtaining a desired object
from someone by offering
something in return

10. INTRODUCTION TO MARKETING CH01 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM
THE FIELD OF
MAARKEETING Market Place & Customer Needs
Markets are the set of actual and potential buyers of a product

11. INTRODUCTION TO MARKETING CH01 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM
THE FIELD OF
MAARKEETING Marketing Management
Marketing management is the art and science of choosing
target markets and building profitable relationships with them
Market segmentation
refers to dividing the
markets into segments
of customers
Target marketing refers to
which segments to go
after
Value proposition Set of
benefits or values a
company promises to
deliver to customers to
satisfy their needs
Q1. What customers will we serve?
Q2. How can we best serve
these customers?
Two important questions which are answered by a winning marketing strategy:
Answered through: Answered through:
If more clarity is required, click here

12. INTRODUCTION TO MARKETING CH01 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM
THE FIELD OF
MAARKEETING Value Proposition
How do you
create a unique
value proposition
in a very
crowded
market? Such as
Smartphones?
Source: 7 of the Best Value Proposition Examples We’ve Ever Seen, Wordstream.com,
https://www.wordstream.com/blog/ws/2016/04/27/value-proposition-examples

13. INTRODUCTION TO MARKETING CH01 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM
THE FIELD OF
MAARKEETING Value Proposition
How do you
create a unique
value proposition
in a very
crowded
market? Such as
Smartphones?
Source: 7 of the Best Value Proposition Examples We’ve Ever Seen, Wordstream.com,
https://www.wordstream.com/blog/ws/2016/04/27/value-proposition-examples

14. INTRODUCTION TO MARKETING CH01 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM
THE FIELD OF
MAARKEETING Value Proposition
Source: 7 of the Best Value Proposition Examples We’ve Ever Seen, Wordstream.com,
https://www.wordstream.com/blog/ws/2016/04/27/value-proposition-examples
How do you
create a unique
value proposition
in a very
crowded
market? Such as
Smartphones?
Apple knows that its feature
are not very unique or could
be copied in the long run so it
very cleverly avoids
mentioning them.
Rather, it points to the overall
consumer experience which
we know id highly influenced
by brand perception.
And we all know that Apple is
a very strong brand!
My assessment

15. INTRODUCTION TO MARKETING CH01 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM
THE FIELD OF
MAARKEETING Marketing Management
1
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Marketing
Concept
Selling
Concept
Sample
Text
Product
Concept
This is a sample text. Insert
your desired text here.
This is a sample text. Insert
your desired text here.
Production
Concept
Societal
Concept

16. INTRODUCTION TO MARKETING CH01 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM
THE FIELD OF
MAARKEETING Marketing Management
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Marketing
Concept
Selling
Concept
Sample
Text
Product
Concept
This is a sample text. Insert
your desired text here.
This is a sample text. Insert
your desired text here.
Production
Concept
Societal
Concept

17. INTRODUCTION TO MARKETING CH01 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM
THE FIELD OF
MAARKEETING Marketing Management
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Marketing
Concept
Selling
Concept
Sample
Text
Product
Concept
This is a sample text. Insert
your desired text here.
This is a sample text. Insert
your desired text here.
Production
Concept
Societal
Concept

18. INTRODUCTION TO MARKETING CH01 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM
THE FIELD OF
MAARKEETING Marketing Management
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Selling
Concept
Product
Concept
Production
Concept
• International Business Machine or IBM was once the spearhead of innovation in
Computing. But its main stream of revenue was selling Main Frame computers to
corporations in the 1960s.
• In 1977, Apple was trying to get a PC on every desk but IBM did not think it would be
such a revolutionary idea.
• Although IBM were one of the pioneers for the PC market, they kept on relying on
their pricier main-frame business even in the 1980s.
• In 1993, IBM stunned the world by reporting quarterly losses of $8bn, caused by
increased competition and a changing market.
• Author and management consultant Robert Heller says IBM did not
understand the importance of the PC. "Prices for mainframe computers
dropped, eventually they dropped by 90%," says Mr Heller. "This was an
immense blow to IBM. It lost money, it lost market share and became a
company in denial. It couldn't believe it was no longer the dominant
force in computing.“
Source: How IBM misjudged the PC revolution, BBC.com,
http://news.bbc.co.uk/2/hi/business/4336253.stm

19. INTRODUCTION TO MARKETING CH01 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM
THE FIELD OF
MAARKEETING Marketing Management
1
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Marketing
Concept
Selling
Concept
Sample
Text
Product
Concept
This is a sample text. Insert
your desired text here.
This is a sample text. Insert
your desired text here.
Production
Concept
Societal
Concept
“Customer Conquest”
Sell whatever you can, as
much as you can.
Whether the customer needs
it or not.
Heavily relies on promotion
and discounts.
Inside out approach.

20. INTRODUCTION TO MARKETING CH01 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM
THE FIELD OF
MAARKEETING Marketing Management
1
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Marketing
Concept
Selling
Concept
Sample
Text
Product
Concept
This is a sample text. Insert
your desired text here.
This is a sample text. Insert
your desired text here.
Production
Concept
Societal
Concept
Customer-driven marketing
efforts where the aim is to
make products which satisfy
the ever changing consumer
needs.
Some times the consumer
may not know what do they
want…That’s when marketers
do the customer-driving
marketing: understanding
customer needs even better
than they do by relentless and
detailed researches. (For
more clarity click here!)

21. INTRODUCTION TO MARKETING CH01 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM
THE FIELD OF
MAARKEETING Marketing Management
1
2
3
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Marketing
Concept
Selling
Concept
Sample
Text
Product
Concept
Production
Concept
Societal
Concept
Throughout his career, Steve Jobs famously shunned market research and
relied on his intuition.
In a1985 interview with Playboy, he said: “We built [the Mac] for ourselves.
We were the group of people who were going to judge whether it was
great or not. We weren't going to go out and do market research.”
Twelve years later, he told Business Week: “A lot of times, people don't
know what they want until you show it to them.”
Steve Jobs may be right but this applies to a very narrow category to
which he aspired: where his products, such as the Mac, iPod, iPhone and
iPad, either redefined or created product categories. Most businesses do
not operate in this category.
Customer-Driving Marketing: Apple!
Source: Five Dangerous Lessons to Learn from Steve Jobs, Forbes.com,
https://www.forbes.com/sites/chunkamui/2011/10/17/five-dangerous-lessons-to-learn-
from-steve-jobs/#d1df7b23a95c

22. INTRODUCTION TO MARKETING CH01 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM
THE FIELD OF
MAARKEETING Marketing Management
1
2
3
4
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Selling
Concept
Product
Concept
This is a sample text. Insert
your desired text here.
This is a sample text. Insert
your desired text here.
Production
Concept
Societal
Concept

23. INTRODUCTION TO MARKETING CH01 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM
THE FIELD OF
MAARKEETING Marketing Management
1
2
3
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Selling
Concept
Product
Concept
This is a sample text. Insert
your desired text here.
This is a sample text. Insert
your desired text here.
Production
Concept
Societal
Concept

24. INTRODUCTION TO MARKETING CH01 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM
THE FIELD OF
MAARKEETING Marketing Management